MRC Chiefs Modi Wiczyk and Asif Satchu Part Ways With Eldridge, PMRC Joint Venture
variety.comWilliam Earl MRC leaders Modi Wiczyk and Asif Satchu and Todd Boehly’s Eldridge holding company have reached a deal to carve up their jointly owned assets into separate business entities.Wiczyk and Satchu will retain the MRC production entity, home to TV series including Netflix’s “Ozark” and Hulu “The Great,” and MRC’s investments in content shops Civic Center Media and T-Street.Eldridge will retain Dick Clark Productions and investments in hot indie studio A24, James Corden and Ben Winston’s Fulwell 73, Michael Sugar’s Sugar 23 and audience data firm Luminate.
Eldridge also holds on toits minority stake in the PMRC joint venture established in 2020 that is the parent company of Variety, Rolling Stone, Billboard, Vibe, The Hollywood Reporter, Music Business Worldwide, the annual Life is Beautiful music festival and an investment in the SXSW festival franchise that is expanding beyond its Austin, Texas roots next year with an edition in Sydney, Australia.
Eldridge will also retain a minority stake in MRC. In a statement, Boehly and the MRC partners characterized the transaction as the next step in what has been a fruitful investment partnership.
Last year, MRC’s Dick Clark Productions changed its name to MRC Live & Alternative last year and tapped industry veteran Adam Stotsky to take the reins as president.
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